Green to gold: How legal cannabis helps Colorado’s housing market thrive

Research from Clever Real Estate reveals that states with legalized recreational cannabis have witnessed home values soar by an average of more than their non-legal counterparts since As the housing area continues to shift the details indicates a compelling correlation between cannabis legalization and considerable increases in median home values Legalizing recreational cannabis can bring a variety of economic benefits including business enhancement and increased consumer spending One of the preponderance crucial effects is the substantial rise in home values which tends to exceed the enhancement seen in states where recreational cannabis remains prohibited In states where recreational cannabis is legal the average home value reached in up from in an increase of over years In contrast in states where recreational cannabis is illegal home values grew by only during the same timeframe rising from in to in Of the states with the highest jump in home values since nine of them all except Idaho have selected form of legalized cannabis California tops the list with a nearly increase in home values Colorado ranks fifth with a increase Top California increase in home values since Hawaii Washington Massachusetts Colorado Utah Idaho Nevada Oregon New Hampshire Colorado and Washington were the first states to legalize recreational cannabis while Ohio Minnesota and Delaware are the latest to do so If those three states had legalized cannabis at the same time as Colorado and Washington Clever estimates home values could have increased by since then Since Washington and Colorado legalized recreational cannabis in the arena has flourished Now states and the District of Columbia have followed suit Bottom Among the states with the largest part minor increases in home values nine have not legalized recreational cannabis Louisiana West Virginia Mississippi Arkansas Oklahoma Iowa Alabama Illinois Kentucky North Dakota Related ArticlesNovember Sponsored How Denver s October territory reset creates opportunities for buyers sellers October Sponsored Discover how the generational divide shapes Denver mortgage trends October Sponsored They got it right Downsizers tell how they timed their perfect senior move with aid from The Steller Group October Sponsored Colorado homes shrink Why various buyers embrace smaller spaces October Sponsored Colorado homebuyers experience best field in years Louisiana where cannabis is only legal for healthcare use experienced the smallest gain with home values rising by just since Illinois is the only state in the bottom ten that has legalized recreational marijuana High property taxes are causing both new and existing residents to leave limiting home appreciation even though cannabis legalization usually brings an economic boost The news and editorial staffs of The Denver Post had no role in this post s preparation